An Unbiased Pareto Improvement strategy for poverty alleviation

Md Monowaruz Zaman

MPRA Paper from University Library of Munich, Germany

Abstract: There are historical and institutional reasons behind our economic problems like poverty and environmental damage but it is not acceptable if they persist in years to come. The strategic use of information by individual economic agents establishes a biasing effect on our economy. In case of poverty, economic efforts of poor people are continuously undervalued and therefore, true welfare across an economy cannot be achieved without protecting the poor people for their immediate economic needs and simultaneously counteracting the biasing forces. This article describes an Unbiased Pareto Improvement (UPI) strategy to be implemented across an economy and eventually across the world to solve poverty problems. This strategy describes making business opportunities involving poor people as well as helping government to set up pro-poor economic policies and infrastructures. A new indicator RICR (Real Income to Contribution Ratio) is introduced to measure its performance.

Keywords: Bangladesh; Economics of information; micro credit; micro finance; Pareto improvement; poverty; social business; real income; Yunus (search for similar items in EconPapers)
JEL-codes: B52 D40 D60 D80 E02 I28 I30 I32 I38 P41 P44 Q13 R11 (search for similar items in EconPapers)
Date: 2010-12-31
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